Royal Bank of Canada Reduces Holdings in Moelis & Company (NYSE:MC)

Royal Bank of Canada reduced its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 32.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,970 shares of the asset manager's stock after selling 214,457 shares during the quarter. Royal Bank of Canada owned approximately 0.59% of Moelis & Company worth $32,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Prana Capital Management LP acquired a new stake in shares of Moelis & Company during the 4th quarter worth about $3,561,000. ProShare Advisors LLC raised its holdings in Moelis & Company by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 21,298 shares of the asset manager's stock valued at $1,573,000 after buying an additional 6,559 shares during the period. Quantinno Capital Management LP purchased a new position in Moelis & Company in the fourth quarter valued at approximately $206,000. Man Group plc grew its holdings in Moelis & Company by 99.0% during the 4th quarter. Man Group plc now owns 56,959 shares of the asset manager's stock valued at $4,208,000 after purchasing an additional 28,342 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Moelis & Company by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,241 shares of the asset manager's stock valued at $2,973,000 after purchasing an additional 1,584 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price target (up from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. The Goldman Sachs Group boosted their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Finally, Morgan Stanley reduced their price objective on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $59.83.

Moelis & Company Trading Down 0.4%

Shares of NYSE MC opened at $56.53 on Friday. The firm has a 50-day moving average of $55.55 and a two-hundred day moving average of $67.46. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 32.12 and a beta of 1.66. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The business's revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be paid a $0.65 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.60 annualized dividend and a dividend yield of 4.60%. Moelis & Company's payout ratio is 119.27%.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.

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